Analysis of revenues and expenses
FY2017 revenues totaled RUB 71,090 million (+RUB 5,638 million or 8.6%YoY), with transmission revenues amounting to RUB 69,873 million (+ RUB 6,170 million YoY). Revenues gained due to grown average tariff, reduced load loss prices (due to exclusion from settlements with customers for electricity transmission since 01.08.2017) and changes in consumer structure (voltage classes).
Expenses plus administrative costs reached RUB 64,372 million (+ RUB 3,984 million or 6.6% YoY). The hike is mainly driven by grown non-controllable expenses, namely increased expenses on loss compensations caused by grown average non-regulated electricity purchase price and lowered price of load losses, payments to PAO FSK UES and other grid operators.
Pre-tax profit totaled RUB 5,713 million (+ RUB 904 million YoY). FY2017 net income totaled RUB 4,570 million (+ RUB 1,264 million YoY). The rise of net income is accounted for by increased transmission revenues and additional revenues from sanctions for non-fulfilled contractual obligations.
Key financial and economic metrics, RUB million:
|FY 2017||FY 2016||FY 2015|
|Total revenues, comprising:||71,090||65,452||60,535|
|Revenues from electricity transmission||69,873||63,703||58,227|
|Revenues from connection||874||1,336||1,862|
|Revenues from electricity sales||0||0||0|
|Profit (loss) from sales||6,718||5,064||4,466|
|Income from shareholdings||237||314||161|
|Income tax and other payments||-1,143||-1,503||-739|
|Net income (loss)||4,570||3,306||2,466|